National accounts, domestic product

Gross Domestic product

The German economy continues to grow. In the second quarter of 2018, the gross domestic product (GDP) rose 0.5% on the previous quarter after adjustment for price, seasonal and calendar variations. The Federal Statistical Office (Destatis) also reports that GDP growth in the first quarter of 2018 had been slightly smaller (+0.4%).

Industry is of great economic importance both in Germany and in Mexico. The Federal Statistical Office (Destatis) reports this on the occasion of the HANNOVER MESSE trade show which will take place from 23 to 27 April 2018. As figures of the Organisation for Economic Cooperation and Development (OECD) show, in 2016 manufacturing accounted for 18.0% of the national economy of Mexico, this year's Partner Country at the trade show.

Household final consumption expenditure at current prices grew by 3.6% in 2017 year on year. This was the largest increase since 1994. In price adjusted terms, the final consumption expenditure of households rose by 1.9% on a year earlier.

National wealthaccounts

In light of demographic change and ageing societies, especially in industrialized countries, statistical information on old-age provisions are of increasing importance. To improve statistical coverage of old-age provisions and its comparability between countries, a new table has been introduced with the European System of Accounts (ESA) 2010 which shows for the first time entitlements from employment-related pension schemes in National Accounts based on actuarial model calculations.

Input-output-accounts

Who are the main international trading partners of individual countries? This question is usually answered on the basis of cross-border trade flows. As an alternative, international work-sharing can be examined by looking at global value-added chains, as has been done by the Organisation for Economic Co-operation and Development (OECD) on the basis of input-output tables. A major result obtained by the OECD is that some newly industrialising countries have a greater weight in international trade than is suggested by the foreign trade data collected according to the traditional concept. Also, the new OECD estimates put into perspective the widespread perception of some countries – such as China – as an overwhelming trading partner.

EU-Stability pact

According to the Treaty establishing the European Community, the member states of the EU are obliged to avoid excessive government deficits (Article 104). That obligation was confirmed by the European Stability and Growth Pact when the EURO was introduced as a common currency in the participating member states. If certain reference values are exceeded in a member state, the excessive deficit procedure, as it is called, is triggered, at the end of which fines amounting to billions may have to be paid.

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Overall economic equilibrium: 50th anniversary of the Magic Square

50 years ago, on 8 June 1967, the Law to Promote Economic Stability and Growth (Stability Law) entered into force. Against the background of the 1966/1967 recession, this Law concretises the goal of an overall economic equilibrium. It specifies four individual goals to be achieved at the same time through economic and fiscal policy measures of the Federation and the Länder. These goals are often referred to as the Magic Square of economic and fiscal policy because they cannot always be achieved at the same time without conflicts. The data on the Magic Square over the last 50 years show that the economic development in Germany has been characterised by marked cyclical fluctuations.

Balance sheets for institutional sectors and the total economy 1999 - 2016

This publication presents the balance sheets for the domestic institutional sectors and the total economy. Both non-financial assets, calculated by the Federal Statistical Office, as well as financial assets and liabilities, compiled by the Deutsche Bundesbank, are recorded.

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